Michael A. Widmann - May 28, 2021 Form 4 Insider Report for SolarWinds Corp (SWI)

Role
Director
Signature
/s/ Michael A. Widmann
Stock symbol
SWI
Transactions as of
May 28, 2021
Transactions value $
$0
Form type
4
Date filed
6/2/2021, 04:44 PM
Next filing
Jul 26, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SWI Common Stock Award $0 +15.3K $0.00* 0 May 28, 2021 Direct F1, F3
transaction SWI Common Stock Award $0 +12.7K $0.00* 0 May 28, 2021 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 15,333 restricted stock units awarded to Michael Widmann, a director of the Issuer and an executive of Silver Lake Group, L.L.C. ("SLG") as part of the Issuer's non-employee director compensation program (the "Director Compensation Program"). These restricted stock units vest one-half on each of October 23, 2021 and October 23, 2022, subject to the director's continued service through the vesting dates. On May 28, 2021, Michael Bingle, an executive of SLG, did not stand for re-election to the Issuer's board of directors. This grant to Mr. Widmann represents the unvested portion of the grant made to Mr. Bingle under the Issuer's Director Compensation Program at the time of the Issuer's initial public offering and such grant vests on the same terms as the grant made to Mr. Bingle, the unvested portion of which was forfeited by Mr. Bingle when he left the board of directors.
F2 Represents 12,688 restricted stock units awarded to Michael Widmann pursuant to the annual equity grant under the Issuer's non-employee director compensation policy that entitles the holder to receive one share of the Issuer's common stock per restricted unit upon vesting. The restricted stock units vest 100% on the one-year anniversary of the grant date, subject to the director's continued service through such date.
F3 Mr. Widmann is a Director at Silver Lake Group, L.L.C. and is a member of the board of directors of the Issuer. These securities are held by Mr. Widmann for the benefit of Silver Lake Group, L.L.C. and/or certain of its affiliates or certain of the funds they manage ("Silver Lake"). Pursuant to Silver Lake's policies with respect to director compensation, upon the sale of these securities, the proceeds from each sale will be expected to be remitted to Silver Lake and/or its limited partners. Mr. Widmann disclaims beneficial ownership of these securities and the inclusion of the securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or any other purpose.